How Many Type of Market Research?2 min read
How Many Type of Market Research?
How Many Type of Market Research? It is necessary that a marketer knows how many types of Market Research tools to use for their Marketing Research. As in any form of Marketing, Market Research is a critical element in determining the success of a Market Research Program or an Advertising Campaign.
The most important Market Research tools our Customer Surveys and Mystery Shopping. Customer surveys are very valuable because they offer the best means of getting information about the customer experience. Many companies use customer satisfaction surveys to discover what their customers really want. These types of surveys allow companies to gather data on a large scale, from thousands of customers at once. The information from customer surveys is invaluable to a marketer because it tells you what their needs and wants are;
Mystery shopping is also a valuable tool for Market Research. Mystery shoppers visit stores, restaurants, etc., Mystery shopping can give Market Researchers valuable insights into how consumers think, feel and act.
Of the several types of online surveys, the most commonly used are the qualitative surveys. Qualitative research is the process of gathering data through normal consumer behavior.
This can lead to improvements in product design, packaging, customer service, marketing, etc.
Some examples of statistical tests that could be conducted with this data would be things like correlation and causation. The goal of descriptive research here is to determine the nature of the relationships.
Market researchers can use a combination of techniques in order to get the data that they want. However, each of these techniques has its own strengths and weaknesses. Marketers who rely solely on descriptive research methods often face stiff resistance from businesses that see such measures as unnecessary and irrelevant. On the other hand, causal research produces quick and accurate results.